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UniCredit issues 5 years bond senior for EUR 1 billion

UniCredit (rated Baa2/BBB/BBB+) has issued today a new senior benchmark with a maturity of 5 years and a size of Euro 1 billion. Following a book building process the coupon has been set at 1.50% with an issue/re-offer price of 99.504%, resulting in a yield of 90 basis points over the swap rate of equivalent maturity (tight end of the initial guidance).


UniCredit Bank AG, Bank of America Merrill Lynch, Goldman Sachs, Lloyds and Banco Santander have managed the placement acting as joint bookrunners.


The transaction was placed to approximately 100 institutional investors with the following distribution: funds (79%), banks (13%) and insurance companies (7%). The demand was driven by a wide geographical diversification with France (37%), Italy (22%), UK/Ireland (22%) and Germany/Austria (7%).


The bonds form part of the UniCredit's outstanding benchmark curve and are documented under the Euro Medium Term Notes Program. Listing will be on the  Luxembourg Stock Exchange.



Milan, 12th June 2014